Good news for Brazilian economy
The Brazilian currency, the real, had its highest close since August 8, last night.
The real strengthened by 1.1 per cent to 1.9237 per dollar and according to a survey of 38 economists conducted by Bloomberg Brazil’s economy grew 5.9 per cent in the second quarter, compared with 4.3 per cent in the earlier quarter.
At the Sao Paulo stock exchange the Bovespa index increased by 2.41 percent, closing at 53,920.57 points, according to Reuters.
Brazil’s trade ministry reported on Monday that in the first week of September there was a $1.2 billion foreign trade surplus, further strengthening the country’s economic buoyancy.
Other Latin American countries also experienced growth.
Gerado Rodriguez, head of the Mexican finance ministry’s public debt unit announced plans to reduce international debt by $500 million by 2008 and the energy minister for Peru, Juan Valdivia, predicted that the country’s mining exports could rise by 14 per cent this year owing to higher metal prices and output.
